Golden State Warriors replace FTX with Coinbase as new crypto partner

bias

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Quote from: bbc.reporter on November 20, 2024, 08:50:23 PM

On Bakkt, is this where Elon moved Tesla's bitcoin? Did he loan them to the market makers on Bakkt? The next 4 years will also be exciting. It appears the Donald is preparing for the American government's bitcoin treasury hehehehe.

We should not forget that some countries need to unload some of their "seized" BTC. That's a very large number. Maybe they plan to loan them as well to others or play a bit with the market? BTC it's the precious "One Ring". It looks like that will make them all search for ways to use its power and at the same time not give it elsewhere. Hodl or sell Mr. President? Cheesy

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Quote from: Rikafip on November 20, 2024, 05:50:58 AM

Quote from: bbc.reporter on November 19, 2024, 09:09:45 PM

It appears that if the Democrats have Sam Bankrupt Fraud, the Republicans have Brian Armstrong ehehe. We cannot be certain if Coinbase will be the Binance killer, however, Coinbase will certainly become more powerful in America with Trump's support.

I don't really know much but US crypto market, but wasn't Coinbase always nr 1 there, even before all that drama with CZ?

Speaking about Trump, I read few days ago that he is allegedly looking into taking over Bakkt. Next 4 years gonna be very interesting. Wink

You are correct, thank you. Coinbase became the best exchange in America after the crackdown on Bittrex and Poloniex. Binance became the rest of the world's no.1 exchange. However, I change the question. Similar to FTX being the implied Binance killer during the last bull market, will Coinbase finish what FTX has begun?

On Bakkt, is this where Elon moved Tesla's bitcoin? Did he loan them to the market makers on Bakkt? The next 4 years will also be exciting. It appears the Donald is preparing for the American government's bitcoin treasury hehehehe.

Rikafip

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Quote from: bbc.reporter on November 19, 2024, 09:09:45 PM

It appears that if the Democrats have Sam Bankrupt Fraud, the Republicans have Brian Armstrong ehehe. We cannot be certain if Coinbase will be the Binance killer, however, Coinbase will certainly become more powerful in America with Trump's support.

I don't really know much but US crypto market, but wasn't Coinbase always nr 1 there, even before all that drama with CZ?

Speaking about Trump, I read few days ago that he is allegedly looking into taking over Bakkt. Next 4 years gonna be very interesting. Wink

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legendary

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It appears that if the Democrats have Sam Bankrupt Fraud, the Republicans have Brian Armstrong ehehe. We cannot be certain if Coinbase will be the Binance killer, however, Coinbase will certainly become more powerful in America with Trump's support.

On trading, what do we buy and what tokens will be bullish because of this? Coinbase has a venture capital business Coinbase Ventures. Will the projects where Coinbase Ventures invested pump higher because they might be given regulatory favors in America?

President-elect Donald Trump is scheduled for a private meeting with Coinbase CEO Brian Armstrong, according to sources familiar with the matter.

The meeting is expected to focus on crypto-related regulatory appointments in Trump’s second term, a crucial issue for an industry eager for clearer guidelines.

Read in full https://www.ccn.com/news/crypto/donald-trump-coinbase-ceo-meet-crypto-and-second-term-plans/

bias

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Quote from: bbc.reporter on November 17, 2024, 10:12:28 PM

Was Brian Armstrong one of the supporters of the Donald Trump in his presidential campaign. This only implies that Coinbase will become bigger and it might be the real Binance killer hehehe.

I don't know how a president can make a company bigger. In terms of taxation and favorable legislations, that can benefit not only Coinbase but the whole crypto industry. Unless both Trump and B. Armstrong make some kind of agreement regarding foreign-based exchangers...

Quote from: bbc.reporter on November 17, 2024, 10:12:28 PM

On why the Golden State Warriors did not announce a new partner immediately, this might also be because the Golden State Warriors did not find a bidder that can pay the price.

I can hardly believe that one of the most successful franchises in the NBA, facing difficulties in finding a "right' sponsor. IMHO they focused on getting a crypto-related company to be on their jersey. Probably, because they see their numbers rising with FTX, even if the sponsor collapses. That wasn't in the program. Roll Eyes

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Quote from: Rikafip on November 13, 2024, 11:58:01 AM

Quote from: NotATether on November 13, 2024, 05:15:12 AM

FTX collapsed two years ago. Why didn't they just tear up the agreement with FTX and announce a new sponsor right then and there?

I guess they were more careful this time when choosing a new crypto partner, as they were sued by several parties for their involvement with FTX.

Hopefully they have more luck this time. Tongue

Was Brian Armstrong one of the supporters of the Donald Trump in his presidential campaign. This only implies that Coinbase will become bigger and it might be the real Binance killer hehehe.

On why the Golden State Warriors did not announce a new partner immediately, this might also be because the Golden State Warriors did not find a bidder that can pay the price.

bias

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Quote from: NotATether on November 13, 2024, 05:15:12 AM

FTX collapsed two years ago. Why didn't they just tear up the agreement with FTX and announce a new sponsor right then and there?

The whole procedure with FTX case was a nightmare for all the parties involved. If you were connected as a company in any way with FTX logo, you had to clarify and check thoroughly any kind of deal that you had with them. Especially if this deal involves incoming money (for the company) and not invested money (from the company).

Quote from: Rikafip on November 13, 2024, 11:58:01 AM

I guess they were more careful this time when choosing a new crypto partner, as they were sued by several parties for their involvement with FTX.

Hopefully they have more luck this time. Tongue

That's true. A question though arises from this. Since their 1st crypto sponsorship attempt (FTX was the first, right?) failed badly and put them in such a mess, why did they choose a crypto partner again? Don't tell me that all of those years GSW didn't have any other company for sponsorship and waited for crypto companies to get a good deal...

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Quote from: NotATether on November 13, 2024, 05:15:12 AM

FTX collapsed two years ago. Why didn't they just tear up the agreement with FTX and announce a new sponsor right then and there?

I guess they were more careful this time when choosing a new crypto partner, as they were sued by several parties for their involvement with FTX.

Hopefully they have more luck this time. Tongue

NotATether

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bitcoincleanup.com / bitmixlist.org

FTX collapsed two years ago. Why didn't they just tear up the agreement with FTX and announce a new sponsor right then and there?

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Quote from: bias on November 10, 2024, 02:34:46 PM

In the end, devs and issuers have two options. Either they make their project very famous or they pay. Thanks for posting it!

This is certainly why the development teams that should be taken much more serious are those that have created their product and they have developed this much more finely first before they are issuing a token. This is a very good indicator that the project's developers are longterm developers. There are 2 very profitable projects that are very famous that have not yet issued a token, Polymarket and pump.fun. If they begin to issue their tokens, I will be a very longterm investor on them heheheh.

tabas

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Quote from: bbc.reporter on November 09, 2024, 11:38:56 PM

Added together, getting listed on Binance could cost 16% of your token supply and a $5 million purchase of BNB. If Binance isn’t the primary exchange, a project will still face spending of almost $2 million worth of tokens or stablecoins.[/i]

That's massive, I've always believed what they say about that if a project is popular and known, they will charge them for free. But I've forgotten that they're a business and let's say few to none become listed on them and just take the normal route of being listed. 16% of the total supply is a lot. But I can't blame them because even themselves have a loyal community that's also growing.

Quote from: bias on November 10, 2024, 02:34:46 PM

As I see it, any big exchanger can list any coin without any fees, if they see that its demand is high. Thus bigger crowd (community), more trading fees for them and etc benefits. The thing though is that they use this as an excuse in order to say that they don't charge anything. Nice marketing trick...

This is true, that's what I have believed for so long but then that's also the reason why many aims to gets listed on them because of the community that they have.

Quote from: bias on November 10, 2024, 02:34:46 PM

In the end, devs and issuers have two options. Either they make their project very famous or they pay. Thanks for posting it!

And making their project famous will also take a lot of money through marketing so, they choose which route is better for them. A long or a shortcut road.

bias

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Quote from: bbc.reporter on November 09, 2024, 11:38:56 PM

@bias. Everyone should read this. In any case, the article also mentioned that Binance and the other big exchanges will also list a project's token without an application from the project's founders and without asking for a listing fee if a project has created a community that is loyal and growing. I reckon this might be something similar to the Link marines or XRP army during 2015 and 2019 heheheheh.

As I see it, any big exchanger can list any coin without any fees, if they see that its demand is high. Thus bigger crowd (community), more trading fees for them and etc benefits. The thing though is that they use this as an excuse in order to say that they don't charge anything. Nice marketing trick...
In the end, devs and issuers have two options. Either they make their project very famous or they pay. Thanks for posting it!

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@bias. Everyone should read this. In any case, the article also mentioned that Binance and the other big exchanges will also list a project's token without an application from the project's founders and without asking for a listing fee if a project has created a community that is loyal and growing. I reckon this might be something similar to the Link marines or XRP army during 2015 and 2019 heheheheh.

I want to talk briefly about the cost of listing on a CEX. The biggest issue with the current crop of token launches is that the price is too high. Therefore, it is almost impossible to have a good launch regardless of the CEX that wins the primary listing. If that weren’t bad enough, projects with too high of an initial price are paying an egregious amount of money in the form of project tokens and stablecoins for the privilege of listing a turd.

At the top end, Binance charges up to 8% of the total token supply as a listing fee. Most other CEXs charge between $250,000 and $500,000, paid in stablecoins.

Binance devised a genius strategy for requiring projects to purchase BNB and stake it as a deposit. When / if the project delists, the BNB is returned. Binance requires up to $5,000,000 worth of BNB to be purchased and staked as a deposit. Most other CEXs require a deposit of $250,000 to $500,000 in stables or that CEX’s token.

Binance at the top end requires the projects to give away 8% of their token supply to Binance users via on-platform airdrops and other campaigns. The medium-expensive CEXs require a spending of up to 3% of the token supply. At the bottom end, CEXs require a marketing spend of $250,000 to $1 million paid in stables or project tokens.

Added together, getting listed on Binance could cost 16% of your token supply and a $5 million purchase of BNB. If Binance isn’t the primary exchange, a project will still face spending of almost $2 million worth of tokens or stablecoins.

Read in full https://cryptohayes.substack.com/p/pvp

bias

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Quote from: bbc.reporter on November 09, 2024, 12:45:51 AM

@bias. This is not an attack on Binance, I am only saying what is the reality behind centralized exchanges. I reckon Arthur Hayes wrote a very long article on this and the most expensive listing fees in the cryptospace are charged by the biggest exchanges. Also, some of the demands of these big exchanges similar to Binance is to include a certain percentage of the token supply of the project as payment heheheh.

Who said about attacking Binance? You are totally right and we are on the same page here.

All "Tier 1" exchanges, like Coinbase, charge either directly in terms of deposit/ payment ( I guess the currency isn't a problem) or through some percentage from the token supply of the project that wants to be listed on them. It would be absurd for them not to charge the issuers, one way or another. Such as it would be absurd for the exchanger to keep tokens and coins that don't have big/ good (?) trading volume, thus no profits for them. Let's see what Coinbase will say about these posts... (making some popcorn to watch this fight...)

Quote from: bbc.reporter on November 09, 2024, 12:45:51 AM

I will find this article and share in this thread.

Please do, it will be great and enlightening. Cool

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legendary

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@bias. This is not an attack on Binance, I am only saying what is the reality behind centralized exchanges. I reckon Arthur Hayes wrote a very long article on this and the most expensive listing fees in the cryptospace are charged by the biggest exchanges. Also, some of the demands of these big exchanges similar to Binance is to include a certain percentage of the token supply of the project as payment heheheh. I will find this article and share in this thread.

bias

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Quote from: bbc.reporter on November 08, 2024, 12:42:32 AM

If you are running a business, certainly yes, your revenues should be more than your costs or your business will be bankrupt heheeh. But this is not the argument. The argument is Coinbase and their lie that they are not imposing listing fees. However, Binance and other centralized exchanges impose listing fees also. It might only be the people that have spoken against Coinbase might not have been imposed a listing fee by Binance heheheh.

That's most likely true but at least Binance and other exchangers didn't say that they don't charge anything to any coin/ token/ meme issuer that wants to get listed in their exchange. Now why they remember at this point and moment to reveal that Coinbase charges listing fees (in one way or another), it's strange. I guess we will know something more about this rivalry soon enough. Grin

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Quote from: bias on November 05, 2024, 10:54:51 AM

Quote from: bbc.reporter on November 04, 2024, 08:46:05 PM

Quote from: bullrun2024bro on November 04, 2024, 10:06:24 AM

Quote from: Rikafip on November 03, 2024, 11:41:18 AM

Do you know how much Coinbase charges for listing? I am asking because they categorically claim that they don't charge absolutely anything.

Coinbase says it $0, but Justin Sun (Tron founder) just posted this a few hours ago on Twitter. Sun claims that they paid 500 million TRX worth about $80m and Coinbase demanded an additional $250 million BTC deposit.

According to the Andre Cronje, who is the father of DeFi, founder of Yearn Finance and also the founder of Fantom, Coinbase has also asked them for a listing fee of different quotations, however, Coinbase settled with the amount of $60 million hehehehe. He also mentioned that Binance did not ask then for listing fee.

Quote from: https://www.coinbase.com/blog/listing-assets-on-coinbase-is-free-and-always-has-been

Some have speculated otherwise, but it is simply not true.

So, the "speculators" seem right about their "speculation" that indeed Coinbase charges for listing or other kinds of services. Grin

Even if they say for so long otherwise.
Now, can you please tell me who is the liar and who isn't? By the way, if Coinbase charges $80mil (!) for listing a coin, then making a $192mil four-year deal with a top NBA organization like GSW, it's simply a no-cost advertisement to them. Not to mention what Coinbase will gain from it... Roll Eyes

If you are running a business, certainly yes, your revenues should be more than your costs or your business will be bankrupt heheeh. But this is not the argument. The argument is Coinbase and their lie that they are not imposing listing fees. However, Binance and other centralized exchanges impose listing fees also. It might only be the people that have spoken against Coinbase might not have been imposed a listing fee by Binance heheheh.

Rikafip

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Quote from: bias on November 05, 2024, 10:54:51 AM

Now, can you please tell me who is the liar and who isn't?

I would say that all involved parties are liars (especially Justin) its just about who is lying about what. And in this case, Coinbase is probably lying about not charging anything, while in fact they allegedly charge ridicolously high fee.

To be honest, if someone is willing to give $60/$80 million to get their shitcoin listed, it would be stupid not to try to take it. Wink

bias

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Quote from: bbc.reporter on November 04, 2024, 08:46:05 PM

Quote from: bullrun2024bro on November 04, 2024, 10:06:24 AM

Quote from: Rikafip on November 03, 2024, 11:41:18 AM

Do you know how much Coinbase charges for listing? I am asking because they categorically claim that they don't charge absolutely anything.

Coinbase says it $0, but Justin Sun (Tron founder) just posted this a few hours ago on Twitter. Sun claims that they paid 500 million TRX worth about $80m and Coinbase demanded an additional $250 million BTC deposit.

According to the Andre Cronje, who is the father of DeFi, founder of Yearn Finance and also the founder of Fantom, Coinbase has also asked them for a listing fee of different quotations, however, Coinbase settled with the amount of $60 million hehehehe. He also mentioned that Binance did not ask then for listing fee.

Quote from: https://www.coinbase.com/blog/listing-assets-on-coinbase-is-free-and-always-has-been

Some have speculated otherwise, but it is simply not true.

So, the "speculators" seem right about their "speculation" that indeed Coinbase charges for listing or other kinds of services. Grin

Even if they say for so long otherwise.
Now, can you please tell me who is the liar and who isn't? By the way, if Coinbase charges $80mil (!) for listing a coin, then making a $192mil four-year deal with a top NBA organization like GSW, it's simply a no-cost advertisement to them. Not to mention what Coinbase will gain from it... Roll Eyes

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Quote from: bullrun2024bro on November 04, 2024, 10:06:24 AM

Quote from: Rikafip on November 03, 2024, 11:41:18 AM

Do you know how much Coinbase charges for listing? I am asking because they categorically claim that they don't charge absolutely anything.

Coinbase says it $0, but Justin Sun (Tron founder) just posted this a few hours ago on Twitter. Sun claims that they paid 500 million TRX worth about $80m and Coinbase demanded an additional $250 million BTC deposit.

Source: https://x.com/justinsuntron/status/1853317167946842175

The post blew up quite a low already. CZ Binance also commented:

Source: https://x.com/justinsuntron/status/1853317167946842175

Quite interested to see what Brian Armstrong will respond on Suns post, imho.

According to the Andre Cronje, who is the father of DeFi, founder of Yearn Finance and also the founder of Fantom, Coinbase has also asked them for a listing fee of different quotations, however, Coinbase settled with the amount of $60 million hehehehe. He also mentioned that Binance did not ask then for listing fee.

Quote from: bullrun2024bro on November 04, 2024, 07:30:44 AM

Quote from: bbc.reporter on November 03, 2024, 11:00:29 PM

If you want to know how much Coinbase has spent, you should research how much Sam and FTX has spent on their sponsorship deal with the Miami Heat. We should also compare the size of the teams and the revenues on the Golden State Warriors and the Miami Heat and create assumptions which has the bigger sponsorship deal based on size of revenues hehehe.

I speculate that the bigger deal is Coinbase's sponsoship on the Warriors. They are in San Francisco near the wealthy technology companies and their stadium might be much more expensive because of the location.

Are this the correct figures of the old FTX x Miami Heat deal?

Source: https://www.nba.com/news/miami-heat-home-arena-gets-temporary-name-after-ftx-collapse

So $135 million for 19 years, which is about $7m per year. Nothing too crazy imho, or am I missing something?

So maybe $10m per year sounds reasonable?

Yes, this is very reasonable and it might be cheap, I reckon. Another method to create an estimation is to know how much are the real estate prices on the area around the stadium. Also, the ticket prices might be another. According to google, the Golden State Warriors' cheapest tickets are $40. Miami Heat's cheapest tickets are only $15.

Topic: Golden State Warriors replace FTX with Coinbase as new crypto partner (Read 529 times)